SOLUTION: One estimate of the population of the world on January 1, 2005, is 6,486,915,022. The population is estimated to be increasing at the rate of 1.4 percent per year. At this rate, wh

Algebra ->  Sequences-and-series -> SOLUTION: One estimate of the population of the world on January 1, 2005, is 6,486,915,022. The population is estimated to be increasing at the rate of 1.4 percent per year. At this rate, wh      Log On


   



Question 227402: One estimate of the population of the world on January 1, 2005, is 6,486,915,022. The population is estimated to be increasing at the rate of 1.4 percent per year. At this rate, what will the population of the world be on January 1, 2025? Round your answer to the nearest whole number.

Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let P = population on Jan 1, 2005
In a year it will be P+%2B+.014P+=+P%2A%281.014%29
The next year it will be
P%2A%281.014%29+%2B+.014%2AP%2A%281.014%29+=+P%2A%281.014%29%2A%281+%2B+.014%29
P%2A%281.014%29%2A%281+%2B+.014%29+=+P%2A%281.014%29%5E2
So, the rule is:
P%5Bn%5D+=+P%2A%281.014%29%5En where n = number of years
since Jan 1, 2005
20025+-+2005+=+20, so
P%5B20%5D+=+P%2A1.014%5E20
P%5B20%5D+=+P%2A1.320562924
P%5B20%5D+=+6486915022%2A1.320562924
P%5B20%5D+=+8566379470